Crypto
Strategy Unloads 1,637 Bitcoin, Boosts Dollar Reserves to $4 Billion
Strategy, the largest corporate holder of Bitcoin, has made significant moves in its treasury. The company revealed that it sold 1,637 Bitcoin last week, reducing its holdings to 842,138 units.
The sale of Bitcoin was accompanied by an increase in dollar reserves, which now stand at $4 billion. This expansion is attributed to a $250 million boost to the company's cash reserves and the repurchase of $81 million worth of STRC preferred stock.
The period during which Strategy can pay dividends using its dollar reserves has been extended by 57 days to 2.3 years. As per Chairman Michael Saylor, this development indicates a strengthening of the company's financial position.